Is China plotting a takeover of Nigeria’s critical assets in debt repayment? Fact emerges

  • Finally, the People’s Republic of China reacted to the rumor about taking over some of Nigeria’s critical assets as debt payment.
  • Cui Jianchun, Chinese Ambassador to Nigeria, denied rumors that such a thing does not exist
  • He revealed that China has no intention of confiscating Nigeria’s critical assets even if it misses the repayment deadline.

FCT, Abuja- Chinese Ambassador to Nigeria Cui Jianchun has allayed fears that his country is planning to take over Nigeria’s assets in repayment of borrowed loans, Nigerian Daily reported.

The Chinese ambassador made this known Thursday, September 22 in Abuja during the reception of the Chinese special representative for African affairs, Liu Yuxi, with the Nigerian Minister of State for Foreign Affairs, Zubairu Dada.

China reiterated that its relations with Nigeria remain stronger and healthier. Photo: Nigerian Daily
Source: UGC

It was understood that the meeting was aimed at fostering a healthy relationship in strong bilateral relations between Nigeria and China.

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Jianchun noted that the relationship between China and Nigeria is based on mutual trust as his country has no intention of seizing Nigeria’s critical assets in repayment of the loan it borrowed.

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He said that even if Nigeria did not repay the loans, it still would not confiscate its critical assets as some claim.

China pledges to strengthen bilateral ties with Nigeria

Yuxi, while expressing the Chinese government’s full commitment to improving bilateral relations with Nigeria, appreciated Nigeria for upholding the one-China policy.

He said that China, like Nigeria, will continue to support the policy of non-interference internationally.

The special envoy stressed the need for China and Nigeria to strengthen their collaboration, especially in the area of ​​climate change, pledging his country’s zeal to continue supporting Nigeria in the fight against terrorism through of military cooperation.

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Yuxi said with the successes recorded in the fight against COVID-19, China will now strengthen its exchange programs with Nigeria for more knowledge sharing.

Mr. Dada, in his remarks, said that Nigeria cherishes the relationship that exists between the two countries and stressed that it has improved tremendously over time.

He said the commitments made so far by the Chinese government to help Nigeria overcome the challenges of deteriorating infrastructure and build new ones have clearly demonstrated the level of friendship between the two countries.

China remains strong ally of Nigeria – Minister

The minister said that the Chinese government’s support in the areas of railway and energy infrastructure such as the Zungeru hydropower project and the AKK gas pipeline are some examples of China’s commitments to Nigeria’s development.

Dada said China indeed remains the friend in need of Nigeria and the entire African continent.

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He also recalled his attendance at the FOCAC meeting in Senegal where China earmarked 15 projects for Nigeria, calling on China to expedite action on those earmarked projects for the benefit of all Nigerians.

The minister therefore pledged Nigeria’s determination to the one China policy and also thanked the Chinese government for all the support Nigeria has received from China internationally, pledging Nigeria’s reciprocal support to China on optionally.

Mr. Dada used the occasion to call for more investment in Nigeria by Chinese investors as, according to him, Nigeria is hungry for more investment.



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